South Carolina § 12-21-2425 Motorsports entertainment complex admissions license tax exemption.

South Carolina Statutes

§ 12-21-2425 — Motorsports entertainment complex admissions license tax exemption.

South Carolina § 12-21-2425

Title 12TAXATION

Ch. 21STAMP AND BUSINESS LICENSE TAX

This text of South Carolina § 12-21-2425 (Motorsports entertainment complex admissions license tax exemption.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 12-21-2425 (2026).

Text

(A)In addition to the exemptions allowed from the admissions license tax imposed pursuant to Section 12-21-2420 of the 1976 Code, there is also exempt from that tax for ten years beginning July 1, 2008, one-half of the paid admissions to a motorsports entertainment complex.

(B)For purposes of the exemption allowed by this section, a motorsports entertainment complex means a motorsports facility, and its ancillary grounds and facilities, that satisfies all of the following:

(1)is a NASCAR-sanctioned motor speedway or racetrack that hosted at least one NASCAR Sprint Cup Series race in 2012, and continues to host at least one NASCAR Sprint Cup Series race, or any successor race featuring the same NASCAR Cup series;

(2)has at least three scheduled days of motorsports events, and events anc

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(A) In addition to the exemptions allowed from the admissions license tax imposed pursuant to Section 12-21-2420 of the 1976 Code, there is also exempt from that tax for ten years beginning July 1, 2008, one-half of the paid admissions to a motorsports entertainment complex. (B) For purposes of the exemption allowed by this section, a motorsports entertainment complex means a motorsports facility, and its ancillary grounds and facilities, that satisfies all of the following: (1) is a NASCAR-sanctioned motor speedway or racetrack that hosted at least one NASCAR Sprint Cup Series race in 2012, and continues to host at least one NASCAR Sprint Cup Series race, or any successor race featuring the same NASCAR Cup series; (2) has at least three scheduled days of motorsports events, and events ancillary and incidental thereto, each calendar year that are sanctioned by a nationally or internationally recognized governing body of motorsports that establishes an annual schedule of motorsports events; (3) engages in tourism promotion.

Legislative History

HISTORY: 2008 Act No. 313, SECTION 5.A, eff July 1, 2008; 2013 Act No. 68, SECTION 1, eff for tax years beginning after 2012. Editor's Note 2013 Act No. 68, SECTION 2, provides as follows: "SECTION 2. This act [amending subsection (B)(1)] takes effect for tax years beginning after 2012." Effect of Amendment The 2013 amendment, rewrote subsection (B)(1). Former subsection (B)(1) read: "(1) has at least sixty thousand fixed seats for race patrons;".